RATE Group | XRP Adoption: Two Banks Reveal Plans to Support Third-Largest Cryptocurrency
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XRP Adoption: Two Banks Reveal Plans to Support Third-Largest Cryptocurrency

02 May XRP Adoption: Two Banks Reveal Plans to Support Third-Largest Cryptocurrency

Posted at 03:43h in Cryptocurrency News by

Two Swiss banks are revealing plans to offer services for XRP.

Sygnum Bank, which calls itself the first digital asset bank with both a Swiss banking license and a Singapore asset management license, now offers deposit, exchange and credit services for XRP, according to a press release. Sygnum already offers services for Bitcoin and Ethereum.

Simon Waelchli, depot manager at Sygnum, says the bank is impressed with Ripple’s XRP-based cross-border remittance platform.

“The XRP-based solutions developed by the company resolve weak spots in the growing global remittance market of $700 billion.The low cost of transfers makes it an ideal tool to facilitate payments in emerging economies.”

Meanwhile, Arab Bank Switzerland also announced plans to support advisory, custody and brokerage services for XRP, according to a recent announcement. The bank began offering those services for Bitcoin and Ethereum last September.

Arab Bank Switzerland also…

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